Insituform candidates elected to board, along with one Water Asset Management nominee

By Lisa Kerner

Charlotte, N.C., May 27 - Insituform Technologies, Inc. said IVS Associates, Inc. certified that six of the company's directors were re-elected at the annual meeting on May 19.

Elected to the board were Insituform candidates J. Joseph "Joe" Burgess, Stephen P. Cortinovis, Stephanie A. Cuskley, John P. Dubinsky, Juanita H. Hinshaw, and Alfred L. Woods.

Nickolas W. Vande Steeg, one of five director candidates nominated by Water Asset Management LLC, was also elected to the board, according to an Insituform news release.

Water Asset Management and Insituform have been waging a public proxy battle that included citing proxy advisory firm reports and reaching out to shareholders in open letters over the last few weeks.

According to Insituform, Water Asset Management admitted to falsely claiming that Vande Steeg is the former chief executive officer of a Fortune 500 company, it was previously reported.

In addition to Vande Steeg, Water Asset Management, a 5.3% stockholder, nominated Senator Alfonse M. D'Amato; Richard Onses, a water industry consultant based in Barcelona, Spain; Matthew J. Diserio, president of Water Asset Management; and Disque D. Deane Jr., chief investment officer of Water Asset Management.

Insituform, based in Chesterfield, Mo., provides proprietary trenchless technologies to rehabilitate, replace, maintain and install underground pipes.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.